Modern and renovated rental properties in demand: Knight Frank

This New York-style warehouse apartment in Perth is generating a lot of interest: Knight Frank.

RENTAL market activity in the Highgate/Mt Lawley/Inglewood corridor remained steady over winter, according to Knight Frank Residential.

Head of property management Tom Berry said despite the cooler months normally being quiet, evening and weekend home opens had been very successful, constantly attracting large numbers of potential tenants.

“Modern and renovated properties remain in demand within the city and city-fringe areas,” he said.

“A recent home open at one of our Mt Lawley properties attracted 10 potential tenants.

“We are also seeing increased activity in the market from companies relocating staff back to Perth from the eastern states and also overseas students.

“There is increasing activity in the resources sector, which is also starting to filter through to the rental market.”

Tom Berry.

Mr Berry said inner-city and city-fringe areas continued to remain popular and with the growing activity in the market this would continue to increase given these areas’ close proximity to the city, parks and the cafe lifestyle which came with city-fringe living.

Regardless of the improving market, Mr Berry said investors still needed to present properties well to secure tenants.

“First impressions are everything,” he said.

“A property has to stand out online to entice a potential tenant to even attend an inspection; that is why we only use professional photos to advertise properties.”

Using a property manager who provided a flexible service was also important.

“Property managers need to make sure we are available to show properties at times that suit potential tenants, not the other way round,” he said.